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Business EconomyPosted at: Feb 1 2025 6:05PM


Industry hails Budget 2025 as catalyst for economic expansion

New Delhi, Feb 1 (UNI) The Union Budget 2025 presented by Union Finance Minister Nirmala Sitharaman in the Parliament on Saturday was lauded by key industry leaders, who highlighted its focus on infrastructure, tax reforms and economic growth as pivotal steps towards a developed India.
Kuldip Raina, Director of Shalimar Paints, termed the Budget a "pivotal moment" for the paint industry. He welcomed the government's increased funding for key infrastructure projects, expansion of the National Infrastructure Pipeline, and emphasis on rural connectivity.
"The continued push for smart cities and modernisation of urban infrastructure through advanced technology, smart utilities, and public transportation will drive substantial growth. The National Geospatial Mission will further enhance urban planning, boosting demand for decorative and industrial paints," he noted.
Raina affirmed Shalimar Paints’ commitment to supporting India’s growing infrastructure with durable and sustainable solutions.
Anil Agarwal, Chairman of Vedanta Ltd, hailed the Budget’s tax reforms, calling them a major relief for the middle class. "Making incomes up to Rs 12 lakh tax-free and significantly reducing the tax burden for incomes up to Rs 24 lakh is a transformative step. We are moving towards a worldclass tax system that is simple, transparent, and taxpayer-friendly," he stated.
Agarwal also welcomed the focus on mining, which he described as one of six key sectors identified for transformational reforms over the next five years. "The Budget prioritises mining, agriculture, and manufacturing, particularly electronics. These sectors will boost domestic production, reduce imports, and generate millions of jobs," he added.
Agarwal praised the government for stimulating a balance of robust consumption growth and accelerated investment, calling it the foundation of a ‘Viksit Bharat’. UNI BDN SSP
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